A Stuttering Economy

The otherwise astute Gerald F. Seib, in a Capital Journal post in yesterday’s “Wall Street Journal,” entitled, “Democrats Have Reason to Be Nervous About 2012,” wrote this curious line, “Economic trend lines have turned downward at precisely the wrong time for a president preparing to seek reelection.”

One can’t help which president he is referring to. It can’t be Hosni Mubarack Obama (D–Chi), because he has been formally seeking reelection for more than four months, having officially launched his campaign on April 4, 2011.

Interestingly, it was about the same time that the American economy began heading south again. Now, it may not be the direct result of Obama’s reelection campaign, but it is entirely possible that the two events are not unrelated. While it is true that for an Internet savvy population, four months is , how shall we put it–a coon’s age ago, if you Google it, you will learn that around that time the debt ceiling debate was gathering steam. This was because Obama had shown himself utterly unserious about addressing the very real, critical issues confronting our nation. Instead, he proposed a budget which would have ramped up spending and nearly doubled the already untenable debt.

Then, interpreting the silence of the cognizant public for approbation, he photo shopped his birth certificate, announced his reelection campaign, and left town to attend a bunch of fundraisers. In fact, the silence was that of disbelief, as evidenced by the 97-0 rejection of his budget the following month (incidentally, the Democrat-dominated Senate is nearing three full years since they last passed a budget).

Essentially, confronted with issues so complex and threatening that he couldn’t even enjoy a good game of golf, Obama abdicated his office. Unfortunately, unlike British Royalty, in which abdication requires an immediate replacement, as was the case when Edward VIII abdicated in favor of his tongue-tied brother, George, when a president abdicates, the ship of state continues to sail along, without a hand upon the rudder.

On the other hand, considering the job he has done at the helm, perhaps a rudderless ship will prove to be an advantage. It is disturbingly true that whenever the president speaks about the economy the stock market plunges. It’s also true that the markets soared the day he left for vacation. Another advantage of not having a formal succession in place is the fact that the next in line for the throne, Joe Biden, is anything but reticent. In fact, his handlers no doubt go to bed each night praying Joltin’ Joe will develop a stammer.

Basically, we should enjoy our vacation, because as long as Obama is rubbing shoulders with “millionaires and billionaires” on Martha’s Vineyard, he won’t be fanning the flames of class warfare. Not even a Chicago politician would be that crass.

So enjoy it while it lasts. It won’t be long before the president is back on the campaign trail, giving speeches about jobs, and promising to reduce the deficit through more spending. Don’t be surprised if he ends the speech with “Th-th-th-that’s all, folks!” (Cue Looney Tunes theme song.)